RNS Hotlist: Altus, First Tin, Greatland, Kanabo, Kistos, Okyo, Oracle, Rambler, Southern Energy
Oracle Power (ORCP), the international natural resources project developer, said that positive metallurgical results have been returned from the first of three samples from its 100% owned Northern Zone Gold Project, located 25km east of Kalgoorlie in Western Australia. The company said the results indicate that “good” gold recoveries can be achieved within six hours of 83.3%, and up to 90.4% gold recovery over 72 hours. Based on the previously announced Exploration Target of 200-250Mt at 0.4-0.6g/t Au for 2.5-4.8Moz Gold, the positive metallurgical results form the basis for moving forward with drilling to define a maiden inferred JORC resource.
Kanabo Group (KNB), announced an extension to its existing contract between the GP Service and one of the UK’s largest group of retail businesses including food retail, wholesale, e-pharmacy, insurance, and legal services. Kanabo said the GP Service is an “innovative” Telemedicine Provider, that forms an integral part of its overall strategy.
OKYO Pharma (OKYO), a bio-pharmaceutical company, said that it has been notified that Willy Simon, a non-executive director, purchased 361,195 shares between £0.02679 and £0.0284 each.
Greatland Gold (GGP), a mining development and exploration company, provided an exploration and development update at the Havieron gold-copper project in the Paterson region of Western Australia. The company said the growth drilling programme continues to expand Havieron's mineralised system. The existing high grade mineralised zone of the South East Crescent now extends a further 100 metres below its previous Mineral Resource estimate. Testament to the scale of Havieron, there is now continuous mineralisation observed over 1,000 metres of vertical extent with the system remaining open at depth.
Southern Energy (SOUC) announced the successful early flowback results from the first well of the three-well horizontal padsite located in the Gwinville Field. The company said that this is a transformational moment, adding material production, reserves, and cash flow at a time when gas prices are near 14-year highs, it is solidifying and executing its operational strategy to deliver multi-year redevelopment from its assets.
Rambler Metals and Mining (RMM), a copper and gold producer, explorer, and developer, announce its reconciled operational results for May 2022 as well as details of management changes that have recently occurred in the company. Rambler said it has delivered another significant step in the proving of the Ming Mine. The mill has operated at and in excess of its 1,350 tonnes per day target and it has a mine supply, together with ore inventories, that enable that to be sustained. There has been a conscious effort in the month to get the mine into balance between ore production and backfill.
Altus Strategies (ALS) said that it has received record quarterly royalty income of $1.54 million (before tax) (+24.2% QoQ) for the first quarter of 2022 from its effective 0.418% net smelter return royalty interest on the Caserones copper mine in Chile. The Company also noted that the mine operator is now forecasting a mine life of 28 years based on its most recent declaration of reserves, representing an 11 year (65%) increase to the previous mine life.
Kistos (KIST), the low carbon intensity gas producer, provided an operational and trading update ahead of the company's AGM. The company said that it has started the year strongly, delivering a solid operational performance and benefiting from high gas prices. It has almost €130 million of cash at its disposal.
First Tin (1SN), a tin development company, announced the signing of a non-binding Memorandum of Understanding with ERF. The company said its Tellerhäuser and Taronga Projects have “exciting” near term production potential, and this agreement represents a positive step towards commercialising its strategically located assets. ERF has the potential to become an offtake partner to First Tin.
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